My private money lender covered 100% of both the purchase and rehab costs—and even paid me $5K for my time.

True hard money lenders likely will not want to be in 2nd lien position to an institution.

I have a couple of interested lenders but nothing in writing yet.

If this is conventional, the lender fees are ridiculous. 

Also, for obtaining debt, do lenders price this as more risky?

In this post, I’ll explain why private lenders are vital to structuring successful JVs and how both parties, real estate investors and private lenders, can benefit from collaboration.

Since it was for sale by owner, did you use an agent to handle the paperwork, or will the lender handle the legal part of getting the property into your name?

Now, I pray that the lender will grant me an exception due to the primary residency issue. 

@Alexis CanalesYou're in a tough spot because FHA and most conventional lenders require two years of self-employment history, even with strong financials.

Instead of stressing over timing it perfectly, focus on making sure the deal still works even if rates shift.Since you’re buying in Norfolk, check if lenders there offer any investor-friendly incentives.